Social+Capital Partnership backed Ezetap launches MPOS Device under $50

Ezetap, a Bangalore based company in the field of mobile payments was co-founded in 2011 by CEO Abhijit Bose, CTO Bhaktha Kesavachar, and Sanjay Swamy who serves as the company’s Chairman. Today, the company launched their integrated and globally certified Mobile Point of Sale Device with a price point under $50 - approximately one third the cost of any other integrated mobile card reader (supporting magnetic stripe, chip and pin) that is commercially available and certified. Competing head-to-head against global payments companies using devices manufactured in China in the fast-growing Mobile Point-of-Sale market, the entire Ezetap solution from its card reader to service platform has been 100% designed and developed in India.

Ezetap was initially funded by Angel Prime and then raised a series A from Social+Capital Partnership and others. The Ezetap solution consists of a card reader that can be plugged into a smart device or feature phone, and turn it into an intelligent point of sale. The new Ezetap device has a magnetic stripe and chip card reader with a pin pad integrated into a single product.  The device is certified against global security standards and is compliant with the guidelines issued by the Reserve Bank of India. Earlier this month, Ezetap had announced that it was the first company from India to achieve both EMV Level 1 and Level 2 certifications.

Ezetap is being deployed across businesses that are looking to accept card payments on the go, enabling card payments on delivery and even for collections. Ezetap is crossing 7000 live devices in India alone and is adding over 2000 devices per month. It is live in Kenya as well and will be expanding to South East Asia in the next three months.

Website: www.ezetap.com.